The conniption begins, from Chanticleer: Bad policy clearly breeds bad policy, as shown by South Australia’s $370 million tax on the big four banks and Macquarie Group. But South Australian Treasurer Tom Koutsantonis has created a problem for himself by aligning his “super profits” tax on the banks with the state’s share of the national
The post Bank protection racket explodes appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Remember Nathan Birch? He’s dumping properties: For a long time now, I’ve been collecting properties like kids collect action figurines in a happy meal. I never like to see one go. But recently, the finance environment has changed… It’s a bitter pill to swallow for a buy and hold investor – but I need to
The post Mr IQ begins dumping properties appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
My statistical analysis of the 2017 Western Australian election has now been published.
By Leith van Onselen With the release this week of the ABS residential property price data for the March quarter, it is an opportune time to once again plot house prices against total finance commitments (excluding refinancings) as also measured by the ABS. First, below is the national picture, which shows finance approvals typically leading
The post ABS house prices re-converge with finance appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
The 226 members of the House of Representatives and Senate will receive a base salary which is almost six times higher than the June 2017 full-time minimum wage – commencing on 1 July 2017.Excerpts from Remuneration Tribunal 2017 Review of Remuneration for Holders of Public Office Statement, 22 June 2017: The Tribunal has decided to increase remuneration by 2 per cent for public offices in its jurisdiction, with effect from 1 July
Currently the Australian Citizenship Legislation Amendment (Strengthening the Requirements for Australian Citizenship and Other Measures) Bill 2017 is before the Australian Parliament.This bill raises the bar on applications for citizenship and increases the power of the Minister for Immigration and Border Protection, Peter Dutton, over the citizenship process - including granting him the power to override Administrative Appeals Tribunal decisions on citizensh
By Leith van Onselen The Australian Bureau of Statistics (ABS) yesterday released its quarterly labour force report, which breaks-down employment at the industry level to May 2017. Below are some key charts, which present the changes in employment aggregates on a trend basis. First, the quarterly change in employment by industry: As you can see,
The post The rise and rise of government-funded jobs appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
By Leith van Onselen A wide disconnect has opened up between the pay rises being received by federal politicians and senior bureaucrats compared with the rest of the population. This disconnect is shown clearly in the latest wages price data from the ABS, which showed public sector wages growing far more strongly than the private
The post Politicians feast while your pay goes backwards appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
On 19 June 2017 The Greens Senator Larissa Waters moved an amendment to the Treasury Laws Amendment (GST Low Value Goods) Bill 2017.This amendment sought to remove the Goods and Services Tax (GST) from sanitary products used by the vast majority of Australian women and girls during their reproductive years.The Australian Parliament Senate Hansard record
By Leith van Onselen In the week ended 22 June 2017, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, surged by 0.72%: The surge in prices was driven by Sydney and Melbourne: So far in June, home values have risen by 0.92%, driven by Sydney, Melbourne and Perth:
The post CoreLogic weekly Australian house price update appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Iron ore charts for June 22, 2017: Tianjin benchmark rose 1% to $56. Paper fell late and overnight. Steel has not updated. From Reuters: Iron ore exports from India were down 53 per cent in the past two months as China, a major consumer, took better quality ore from Australia to feed its integrated steel
The post Daily iron ore price update (supply curtailments) appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Via Caixin: (Beijing) — China’s banking regulator has recently asked lenders to assess their credit-risk exposure to companies active in overseas acquisitions, sources close to the regulator told Caixin, as the country continues to curb a shopping spree that led to a record capital exodus last year. The China Banking Regulatory Commission said the risk
The post China’s capital flight crackdown shifts to the mighty appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Global Macro / Markets / Investing: Price manipulation in the Bitcoin ecosystem – VOX Blockchain’s Brave New World: Initial Coin Offerings – Forbes The most important charts in the world from the brightest minds on Wall Street – Business Insider Is there ideal portfolio construction for seed funds? – Medium High-Yield Carnage Stays Contained for Now – Bloomberg In the
The post Links 23 June 2017 appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Bless you, HBO. Bless your glorious cotton socks. Delivering us a heart-pumping, loin-girding, ab-touching cracker of a trailer right on the Winter Solstice.